13790-TEC-Annual-Report-23.v5 - Flipbook - Page 4
THE YEAR IN REVIEW
TEC SENIOR
LEADERSHIP TEAM
It has been another exciting, eventful and at times challenging year for TEC and of course our members.
I am pleased to share with you a few reflections from me and my senior leadership team looking back
at the trading year 2022/23.
As detailed in Jo’s Chair Report, trading conditions were
challenging in 2022/2023, and in many ways remain so. Even
now markets continue to be volatile although liquidity is slowly
returning. The trading desk at TEC has responded in several
ways both to the market itself and the growing membership.
Increasing trading resources have allowed TEC to better
communicate with its membership both at an individual and
group-wide level, on market matters and trading performance.
Increasing the number of webinars and email updates for
example, has helped those that wanted further support to
understand the wholesale markets, and increased confidence
when asked to explain the prices they have been paying to
other internal stakeholders. With growth in, and personnel
changes across the TEC Membership, the increased frequency
of these updates, we know have helped members and their
stakeholders to stay informed and in control of energy budgets.
In a world where energy commodity prices alone are
punishingly high, transparency and cost of service have
never been more important. TEC has continued to operate its
flexible buying programme throughout the energy price crisis,
offering wholesale cost budget certainty to members, as well
as protecting them against the worst of the high prices. These
factors, along with TEC’s high levels of service, have contributed
to the growth in the membership, which the trading desk has
managed by opening new buying groups whilst consolidating
others.
02
We all recognise the vital role our sector plays in helping the UK
to deliver an affordable and sustainable energy future. Using
TEC’s own data and that from Estates Management Records,
TEC have established insights into the Scope 1 & 2 emissions
associated with the energy bought via the TEC frameworks.
Gaining a full understanding of TEC related Scope 1 and 2
emissions and identifying reduction opportunities will inform
future carbon reduction strategies. This coming year we will
be validating this information with members and map needs to
both available and future carbon reduction services.
Through this last year we have seen growth of over a third in the
number of meters we are now managing on behalf of members.
The associated volume growth helped to ensure further
management fee reductions across the energy frameworks.
We were also pleased to expand our bill validation services
to support our water utility framework and help new members
transitioning from non-supported services by other providers as
they waited to go live through our framework, saving them tens
of thousands of pounds amid high energy prices.
THE ENERGY CONSORTIUM - ANNUAL REPORT 2023
